ST. LOUIS, July 30, 2024 /PRNewswire/ — Centro Benefits Research (Centro), an ancillary benefits consulting and technology firm representing many of the top Brokers in the U.S., announced the continued expansion of its broker-carrier API (Application Programming Interface) platform with the connection of RFP (Request For Proposal) and quote integration with a second ancillary carrier, Principal Financial Group®.
Principal was among the first connected carriers to provide policy-level data, including benefit details and rates for all in-force business of Centro’s Broker partners. This next iteration of API connectivity enables Centro and Principal to seamlessly exchange RFP data allowing both organizations to eliminate most of the manual data entries and multiple email communications. As a result, data accuracy and turnaround times are significantly improved, enabling a faster and more comprehensive service for planholders.
“Our ongoing collaboration with Principal, first through the Policy API, and continuing with the RFP and Quoting API integrations, has poised Centro to yield tremendous business and operational benefits for all stakeholders across the value chain,” said Beata Rogala, Chief Digital Officer at Centro. “Our dedication to creating data integrations that automate manual processes delivers a modern experience for our users and clients, advancing our mission to transform the industry through technological innovation.”
“Principal is dedicated to providing unique experiences that add value for our distribution partners and customers,” said Kara Hoogensen, senior vice president for benefits and protection at Principal. “The integration of the RFP Process API with Centro demonstrates how we’re driving meaningful progress to the overall digital experience for our customers.”
Over the next 12 months, Centro’s connected carrier roadmap includes several additional ancillary benefits carriers. By integrating these carrier connections, over 50 percent of Centro’s clients’ employee benefits products will be fully automated, positioning Centro at the cutting edge of marketplace innovation.
About Centro Benefits Research
Centro Benefits Research is an ancillary benefits and technology consulting firm that enables brokers and carriers to deliver the best possible outcomes for their mutual customers through powerful research, deep industry expertise and the creation of digitally focused platform efficiencies that drive business growth. Centro’s mission remains squarely focused on bringing modern technology to a legacy insurance process and helping all stakeholders in the system work more effectively. For information, visit centrobenefitsresearch.com.
About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with 20,000 employees1 passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we’re helping more than 62 million customers1 plan, protect, invest, and retire, while working to support the communities where we do business, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the 2023 World’s Most Ethical Companies2, a member of the Bloomberg Gender Equality Index, and named as a “Best Places to Work in Money Management3.” Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.
1 As of March 31, 2024
2 Ethisphere, 2024
3 Pensions & Investments, 2023
Media contacts:
Rachel Pennington, Operations and Marketing, Centro, rachel.pennington@centrobenefits.com
Lauren Peed, Public Relations, Principal Financial Group, peed.lauren@principal.com
SOURCE Centro Benefits Research